Mutual of America Capital Management LLC Cuts Position in Lowe’s Companies, Inc. (NYSE:LOW)

Mutual of America Capital Management LLC cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,210 shares of the home improvement retailer’s stock after selling 3,241 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Lowe’s Companies were worth $15,919,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in LOW. Brevan Howard Capital Management LP boosted its position in shares of Lowe’s Companies by 824.6% in the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after purchasing an additional 13,680 shares in the last quarter. Bamco Inc. NY boosted its position in shares of Lowe’s Companies by 10.3% in the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after purchasing an additional 20,181 shares in the last quarter. Plato Investment Management Ltd boosted its position in shares of Lowe’s Companies by 655.9% in the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after purchasing an additional 5,470 shares in the last quarter. 17 Capital Partners LLC acquired a new stake in shares of Lowe’s Companies in the 1st quarter worth $1,368,000. Finally, Gerber LLC acquired a new stake in shares of Lowe’s Companies in the 4th quarter worth $235,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LOW shares. Wedbush reissued a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. UBS Group lifted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Morgan Stanley lifted their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. lowered their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $252.83.

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Up 0.0 %

NYSE:LOW opened at $256.76 on Wednesday. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The stock has a 50 day moving average of $241.71 and a two-hundred day moving average of $234.94. The firm has a market cap of $146.31 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same period in the previous year, the business earned $4.56 EPS. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. On average, research analysts forecast that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is currently 36.95%.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.